Optimization of balance sheet structure

K+S announces tender offer to buy back outstanding 2022, 2023 and 2024 bonds

06-17-2021
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

K+S Aktiengesellschaft herewith announces a public tender offer to the holders of all outstanding bonds maturing in 2022 (ISIN: DE000A1PGZ82), 2023 (ISIN: XS1591416679), and 2024 (ISIN: XS1854830889) for buy-back in cash (the "Offer").

The Offer is designed to further reduce financial liabilities and to optimize the utilization of proceeds generated by the sale of the Americas operating unit. The buy-back prices under the Offer are 103.00% in 2022, 102.95% in 2023 and 104.35% in 2024 for the bonds with the respective maturities, slightly above the current prices of the corresponding bonds, plus accrued interest.

“With the planned buy-back of the bonds, we want to further optimize our balance sheet structure,” explains K+S Chief Financial Officer Thorsten Boeckers. “Furthermore, this will reduce our interest costs and minimize any negative interest on the proceeds generated by the sale of the Americas.”

The Offer period begins today on June 17, 2021 and is expected to end on June 28, 2021 at 4.00pm CEST. The results of the Offer are intended to be disclosed on June 29, 2021. The settlement of the Offer is expected to take place on June 30, 2021.

The Offer is being made on the terms and subject to the conditions contained in a tender offer memorandum dated 17 June 2021 (the "Tender Offer Memorandum") and is subject to the offer restrictions as more fully described in the Tender Offer Memorandum. The Tender Offer Memorandum contains important information which should be read carefully before any decision is made with respect to the Offer.

The invitation to tender any outstanding bonds for repurchase shall be valid and take effect only outside the territories of the United States. The Offer is not open to US persons.

Additional information are (subject to distribution restrictions) available from the Tender Agent to eligible holders of the Notes. Requests for tender documents can be sent directly to the tender agent: kpluss@lucid-is.com.

About K+S

K+S considers itself a customer-focused, independent supplier of mineral products for the Agriculture, Industry, Consumers, and Communities segments. We enable farmers securing the world's food supply, provide solutions that keep industries running, enrich consumers' daily lives, and ensure safety in winter. From production sites in Europe, North America, as well as through a global distribution network, we serve the ever-increasing demand for mineral products. We strive for sustainability because we are deeply committed to our responsibilities towards people, the environment, communities, and the economy in the regions in which we operate. 

Contact

Your contact for questions about the news

Michael Wudonig
K+S Aktiengesellschaft
Michael Wudonig
Spokesman for corporate topics
Julia Bock
K+S Aktiengesellschaft Investor Relations
Julia Bock
Head of Investor Relations